US Banking Committee chairman Senator Sherrod Brown has touted the possibility of banning crypto, but believes that this could force it offshore.
In an interview with NBC’s “Meet the press”, Senator Brown commented that the SEC and the CFTC should consider banning all cryptocurrencies, but then added that he thought this would be difficult and that it would end up going offshore and out of the jurisdiction of the enforcement agencies. He said:
“We want them to do what they need to do at the same time, maybe banning it, although banning it is very difficult because it would go offshore, and who knows how that would work.”
He added:
“I’ve already gone to the Treasury and the Secretary and asked for a government-wide assessment through all the various regulatory agencies [….] The SEC has been particularly aggressive, and we need to move forward that way and legislatively if it comes to that,”
The Senator was scathing of cryptocurrencies, saying that they were “danger
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